M&A - Hyatt Hotels Corp

Form Type: 8-K

Filing Date: 2025-04-14

Corporate Action: Acquisition

Type: New

Accession Number: 000110465925034703

Filing Summary: On April 11, 2025, Hyatt Hotels Corporation entered into a Credit Agreement to secure a $1.7 billion delayed draw term loan facility. The proceeds will be utilized for the acquisition of Playa Hotels & Resorts N.V. as specified in a Purchase Agreement dated February 9, 2025. The financing includes provisions for the repayment of existing debt and other related transactions. The delayed draw loans can be borrowed until October 9, 2025, or earlier under certain conditions. The agreement captures typical financial covenants and obligations and is designed to provide financial flexibility in relation to the acquisition of Playa.

Form Type: 424B5

Filing Date: 2025-03-17

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525055282

Filing Summary: Hyatt Hotels Corporation is offering senior notes to fund the acquisition of Playa Hotels & Resorts N.V., a significant owner and operator of all-inclusive resorts. The acquisition involves purchasing shares under a Purchase Agreement initiated on February 24, 2025. Hyatt’s proposal includes a tender offer for all ordinary shares of Playa Hotels, expected to complete by April 25, 2025. The acquisition would make Playa Hotels an indirect subsidiary of Hyatt, enhancing its portfolio. The offering serves to finance part of this acquisition along with other corporate purposes, indicating a strong strategic expansion by Hyatt into the all-inclusive market.

Form Type: 8-K

Filing Date: 2025-03-17

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525055281

Filing Summary: Hyatt Hotels Corporation has announced the acquisition of all outstanding shares of Playa Hotels & Resorts N.V. for $13.50 per share, totaling approximately $2.6 billion including about $900 million in debt. This decision is based on a Purchase Agreement dated February 9, 2025. The filing supplements the risk factors in Hyatt's previous Form 10-K, emphasizing the potential risks associated with the acquisition. Financial statements of Playa, both audited and pro forma, are also included to provide insights into the financial implications of this transaction. The company also reported a share repurchase of 1,078,511 shares for around $149 million, leaving approximately $822 million under its repurchase authorization. The filing includes various documents, including a consent by Deloitte & Touche LLP confirming their approval for financials included in the report.